Business Insider UK:
LSE: Failure to get a Brexit trade deal will cost every household at least #1,890 a year
1 June 2017
A report by the LSE's Centre for Economic Performance said that returning to World Trade Organization rules would reduce the UK's trade with the EU by 40% over 10 years…Report authors Swati Dinghra and Thomas Sampson write: "While it is a tautology that a sufficiently bad deal must be worse than no-deal, in practice the no-deal outcome, where the UK and EU trade under WTO terms, is the worst-case scenario for the UK economy. The economic costs of Brexit would be twice as large in the no-deal case than if the UK remains in the Single Market."